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People who fear an annual Amazon commitment — get ready to pay the price.
On Friday, Amazon will be hiking the price of monthly Prime memberships by 18 percent in the United States. This means the cost for monthly members will jump from $10.99 to $12.99, according to an Amazon spokesperson.
The monthly payment option allows customers who know they’ll only use the service certain times during the year to save some cash, as opposed to committing to the annual membership, which costs $99. That annual membership price is not changing.
However, with the expected price increase some monthly members might consider taking the plunge and upgrading to the annual plan. If you plan on using Amazon over the course of more than seven months, you should probably just commit already.
The cost of Amazon’s monthly Prime program for students will also reportedly increase from $5.49 to $6.49, but the price of other monthly Prime services like Prime Video will stay the same.
“Prime provides an unparalleled combination of shipping, shopping and entertainment benefits, and we continue to invest in making Prime even more valuable for our members,” Amazon said in a statement before noting some of the Prime perks.
“The number of items eligible for unlimited Free Two-Day Shipping increased in recent years from 20 million to more than 100 million items. We have expanded Prime Free Same-Day and Prime Free One-Day delivery to more than 8,000 cities and towns. We also continue to introduce new, popular and award-winning Prime Originals…Members also enjoy a growing list of unique benefits like Prime Music, Prime Reading, exclusive products and much more.”
For existing monthly members, the new price will be applied to their first renewal payment following Feb. 18.
Amazon shares rose sharply on the news, gaining about 1.5 percent in pre-market trading.
This article has been updated to include a statement from Amazon.